The Right Decision About What to Produce and Who to Trade

question 88

Multiple Choice

The right decision about what to produce and who to trade with happens:

• A)automatically.
• B)when governments publish comparative advantage numbers.
• C)only after firms research the cost of inputs such as labor and raw materials,and the sale prices of different goods you could produce,and calculate the most profitable option.
• D)None of these is true.

---

Definitions:

Laws of Nature

Fundamental principles or forces that govern the physical universe, including laws of physics, chemistry, and biology.

Juriscience

The scientific study of law and legal principles, often employing methods from various disciplines to understand legal systems.

Diamond v. Chakrabarty

A landmark U.S. Supreme Court decision in 1980 that held genetically modified organisms can be patented, expanding the scope of what is considered patentable material.

Patent a Life-form

The legal procedure to obtain exclusive rights for the invention or discovery of a new and unique living organism.